The yield on the 10-year US Treasury note was a three-month low of 4.20% mark on Monday, holding the nearly holding the near 20bps plunge since last session's high after revised jobs data reflected a significantly weaker labor market than previously thought. Over 250,000 nonfarm payrolls were removed from aggregates in the last two months following the latest revisions by the BLS, magnifying concerns of a more fragile labor backdrop as July's estimates missed expectations. Additionally, manufacturing employment fell the most in the year, according to the ISM. The new figures reflected a greater impact of tariff threats and uncertain economic policy on the US labor market in the last months, erasing the earlier view that the US labor market was robust. Consequently, markets reconsidered their expectations of a Fed cut in September and two rate cuts this year. Also lowering yields, the Treasury announced it would increase the volume of buybacks on notes, bonds, and TIPS.